On: 1000 true fans – Kelley, K – the Technium
– “true fan” is one that spends one day’s wage or $100 per year on your product.
– You need 1000 true fans to move out of the long tail and into the high end of popularity.
– “The point of this strategy is to say that you don’t need a hit to survive.” You can aim for the place in the middle. having the ability to make music and make a good living – instead of writing a hit and making a fortune.
– Thanks to social networking we can aim to keep in direct contact with these 1000 true fans.
On: The Long Tail – Anderson, C
(The above image was found on the Technium site on 1000 true fans, However I found it most useful in understanding the idea of the long tail)
– The most successful businesses on the Internet are about aggregating the Long Tail in one way or another. Where there is a larger variety of products.
– “This is the world of scarcity. Now, with online distribution and retail, we are entering a world of abundance. And the differences are profound.” (page 2 paragraph3)
– We assume, that only hits deserve to exist. However, executives at iTunes, Amazon, and Netflix, has discovered that the “misses” usually make money, too. And because there are so many more of them, that money can add up quickly to a huge new market.
Rules of the long tail
1. Make everything available: employing the idea of “misses” collectively being equal to hits and producing the same revenue.
2. Cut the price in half. Now Lower it.
seems to work fine for the retailer companies but what about individual artists? are they not getting a smaller return because of this.
3. Help me find it: recommendations – ”readers who read this book also read…”
– Emerging digital entertainment economy is going to be radically different from today’s mass market.
On: The marketing Crisis that money won’t solve and permission marketing – Godin, S
– Permission Marketing vs interruption marketing. Interruption marketing is the traditional way to getting customers attention but it doesn’t work anymore- we ignore it.
“if an ad falls in the forest and no one notices, there is no ad.”
– Mass media is dead. Long live Niche media. Marketers are trying to keep mass media alive but they’re flailing.
– Direct marking breaks through the clutter, temporarily. To marketers; if it makes more than it costs to run the campaign its worth doing again.
– Permission marketing is believed to be the answer to the marketing problem. “The way to make advertising work again.”
– “Consumers are now willing to pay handsomely to save time, while marketers are eager to pay bundles to get attention.”
– Permission marketing gives the consumer an opportunity to volunteer to be marketed to. examples; email, social meadia following.
– Encourages long-term interactive marketing where consumers can be rewarded in some way for paying attention.
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